Done a bit of reading as this is looking like ground-floor stuff...

Done a bit of reading as this is looking like ground-floor stuff if world does not implode next month/week/today, and Botswana gets a move on with all that's been talked about... looking pretty good.

Rainy day - trading too risky for me atm - SP dropping - markets tanking - so time to do some "long-termer" extra homework - try to beat the crumby market blues! NMR pull-back story is the new favorite for me this week.

boofhead2, maaze, slipshod, e2053867 and the others from early on - good job getting in before the rush!

pcyc - noted that your comparisons are similar to those on the upcoming Botswana Coal Conference agenda where Chris Mason is presenting his case.

http://www.immevents.com/international-mining-events/botswanacoal/agenda

Under "Exploration and Projects Update" part of the day - there are only five companies speaking - NMR right in there at number four.

AFR (AFR) at 2:00pm with Sese
AVIVA (AVA) at 2:30pm with Mmamantswe
Hodges (HDG) at 3:00pm with Morupule South and Moiyabana
Nirodel (NMR) at 4:00pm with Takatokwane - crowd cheering...
Daheng (???) at 4:30 with Mabesekwa (bit foggy with details on this - if anybody can expand - looks like this company into textiles also???)

As a side point, CCC seems to be worth noting also - as they are busily drilling away in Botswana too, and seem to have an income. No cross-promotion here mods - i don't hold CCC, just am adding to the content here - given title of thread!

Will do a bit more research - but we still seem more than a little cheap - maybe cash position and last placement killing us - along with the fact that this is all relatively early days in a cruddy market? HDG last $sheet says they have $6.5million in hand - so may be at least one reason why they a bit more sort after at present.

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For all the NMR down-rampers - landlocked, no rail, cruddy coal, too hard, cheap coal prices, not PCI/coking coal etc etc etc - fair call. However there do still seem plenty of positives for this little minnow (as a long term hold - as in more than a week)?

None of the following ramblings/factors add a cent to the market cap without new long-term "holders", but food for thought - on what appears to be the ground-floor Botswana coal front??

1) The Botswana gov seem pretty serious about all this coal business, with some of their most prominent figures mixed up in this new industry. Ramp or real, things are stirring.

See agenda link above and start googling!.

2) Gov putting up the visitors in their flagship conference building (which claims to have been built in only 10 months! - some comfort that these Botswana gents can build stuff quick - given that rail line/mine might be nice!), at very least showing they care about impressing the industry and investors. Hope aren't all too distracted as they watch the equity markets disintegrate.

http://www.gicc.co.za/


3) Cross-country rail line talk/dreams still happening. Not off the agenda yet.

http://www.gazettebw.com/index.php?option=com_content&view=article&id=8657:botswana-namibia-coal-rail-line-on-track-&catid=13:business&Itemid=2

http://www.tntnews.co.za/index.asp?page=Railroads#a


4) Canadians talk of Zimbabwe rail improvements. May spark a bit of rivalry/teamwork across Southern African nations?

http://www.thezimbabwean.co.uk/sport/football/54672/canadians-to-revive-railway-sector.html

5) Gov based articles like this showing plenty of money coming into the country (de Beers etc.). Constant talk of coal as new focus in Botswana.

http://www.dailynews.gov.bw/cgi-bin/news.cgi?d=20111109&i=Asian_demand_grows_mineral_sector

6) India thermal coal demand strong (so the papers say!)
http://www.miningmx.com/news/energy/India-coal-demand-to-power-Botswana.htm

7) China demand for SA coal strong - so may spill over to our friends next door in Botswana if the price is right.
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/Coal/8502577

8) Chinese considering dropping $$$ into rail line heading north out of Botswana to lakes district. This will expand/ease the Botswana trades links if it ever goes ahead.

http://www.mmegi.bw/index.php?sid=4&aid=73&dir=2011/November/Monday21

9) Botswana is a very stable country. Amazing growth over the last years (9% per annum year on year sort of stuff), with "Gabs" one of the fastest growing cities on the continent. Local demand increasing for power, as pointed out repeatedly in the NMR presentations. Future economic growth looking good too. Speaking to Chris Mason and he seems very happy with his dealings with the gov departments. Country is often quoted as having low relative levels of corruption and crime.

http://www.africaneconomicoutlook.org/en/countries/southern-africa/botswana/

10) Small, down-to earth crew running the NMR show. Chris Mason sounds very busy - but very positive and confident for NMR growth, mentioning minimum targets of 20c.
No snobs there at NMR - they reply to emails promptly and politely - even called/emailed us back - us mug punters of all people!
Sandrine Sapor in the WA office a pleasure to deal with and all correspondence delivered as promised (rare these days - so thank you Sandrine!)
One bloke over in Botswana pretty much running the three rig drilling crew. Talk about skeleton crew. Cash burn should be pretty good on that front.
Thanks Chris and NMR - all the best on your travels.

11)NMR Still with some cash in the bank (I believe about $3.0 million, though no doubt will need more - given drilling costs and possible payments to Triprop

12) Chris Mason just back from Aus roadshow, now off to Botswana, then London. Surely someone has some cash for NMR!

13) As mentioned at outset - top coal seam found in all 9 holes in phase 1 drilling on south side holding - ready to go with the RC.

14) Assay lab is close by in Pretoria SA - no huge delays for testing, one would imagine.

15)Scoping study carried out by crew pushing eco-friendly type power generation it seems(I need to do more reading on this front). UCCEF? So maybe a partial tick in the eco/green box?

16) Minimal dilution of NMR expected from Triprop buy-in. If us punters and others, manage to prop the price up a little - dilution will be even less - as payment is $50/100,000 cash per step - and $50/100,00 value of shares per step - so the higher the 30 day VWAP - the better us punters are on that dilution front.

17) Past reports from NMR suggest/hint that preliminary results from the scoping study may be available at upcoming Botswana conference - so ears pricked up for that news. Surely Chris will not hold back from telling good news in front of that audience.

18) Solid history of early (and very patient) 2007/2008 holders with prices of around 30c per unit. Scouring the past top 20's shows that most are still holding. Previous large cap raise at 0.06 - hopefully would not have sold out last spike? Last cap raise at 0.026 - who knows - I might be a complete chump - but hopefully that last churn found a new base somewhere north of that??? New directors buying up and holding.

19) Latest top twenty is looking very nice for a minnow. Couple of new off-shore investor/s by the look of it, and some decent private aussie superfunds appearing, along with a mountain of commsec/etrade punters like me, since last annual report. Only a handful departing/reducing. Chris Mason and crew sold the last cap raise story just recently - surely they wouldn't sell out completely - maybe just enough sold to us lot, so that they can free-carry/share the risk from now. That is a bit scary though - because if they now free-carry thanks to us lot, they can sell this back to $0.0 and still profit. Not easy to see without past and present top 50's which I do not have.

20) With the drilling in the new southern area finding the upper coal seam on each drill, the size of the resource may well balloon, and by the looks of the charts/drawing - become somewhat shallower as drilling heads south.

21) Some talk on HC has been critical of the large spacing of holes - but good grief - I am more than happy to see NMR finding coal at spacings miles apart! Infill drilling can wait - whats the odds that the coal disappears between holes??? I think reasonably slim??

22) Time-frames, promised dates all seem to be met. Read through previous announcements and you will see what I mean. on-time every time. Cannot believe I forgot about NMR pre-announcement the other day. Looks like they are running like clockwork. With minimal management, relaxed local laws in Botswana, no massive share holders insisting on having things their way - this seems to be a little group who can just concentrate on getting the resource proved up. Punctuality will allow for some trading games even for us lot.

23) Passed media references (thanks to poster 25or6to4), and last weeks massive churn would no doubt burned this into more than a few radars/watchlists.

http://www.theaustralian.com.au/business/opinion/scramble-to-africa-continues/story-e6frg9ex-1226042167212

24) I don't think NMR quite a RIV without the coking coal - but definitely still one to watch as a thermal coal player, to be collected as funds allow, and bargain sellers appear.

25) Buy-out target? Will be very conspicuous if the resource JORC goes crazy. Even at $50million market cap buy out - the Indian/Chinese buyer would have locked up a lot of coal energy for peanuts price. No doubt they are looking a little further down the track than us lot?!

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Well there you have it - that's my NMR ramp for now. Will be back with more if i keep liking the story and I have any $$$ left for the markets next week.

Please feel free to shoot me down - feedback/negatives/balanced views appreciated.

Minus 58.6 points today. Wonder what sort of volumes went through? Yikes, what a market - maybe we really are all sunk.....3000 here we come???

Regards. bsh